Definition
The investigation and verification of property information, condition, and legal status before purchase. Inspections, surveys, title searches, appraisals, environmental assessments—all happening during contingency period.
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Due diligence includes inspections, surveys, title searches, appraisals, and environmental assessments. Typically conducted during inspection contingency period.
Pro Tip
Thorough due diligence prevents costly surprises. Budget time and funds for comprehensive review.
Example
Conducting due diligence including inspection, survey, and title review within 10-day period.